The Privatization of Sallie Mae and its Consequences
The Privatization of Sallie Mae and its Consequences - Thomas H ...
The Privatization of Sallie Mae and its Consequences - Thomas H ...
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Privatizing <strong>Sallie</strong> <strong>Mae</strong> 1996 <strong>Sallie</strong> <strong>Mae</strong> <strong>Privatization</strong> Act• Established privatization process Holding company structure• Holding company could exp<strong>and</strong> activities Long transition period to operate GSE (to2008) Generally, no affiliation <strong>of</strong> GSE <strong>and</strong> a bank ED could request lender-<strong>of</strong><strong>of</strong>-last-resort function Modest exit fees ($ 36 million + $ 5 million) Shareholder approval required7
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